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UBS may cut further 10,000 jobs by 2027, SonntagsBlick reports
UBS plans to reduce its workforce by 9% through natural attrition and internal shifts as part of Credit Suisse integration, aiming to minimize job cuts globally.
- On Sunday, Reuters reported that Swiss paper SonntagsBlick said UBS might reduce its workforce by another 10,000 employees by 2027.
- Following its 2023 takeover of Credit Suisse, UBS has already been cutting jobs as part of integrating the acquired rival.
- UBS's workforce numbered around 110,000 at the end of 2024, and role reductions would mainly come through natural attrition, early retirement, internal mobility and inhousing of external roles.
- In its reply to the report, UBS did not confirm the 10,000 figure and said it would `keep the number of jobs cuts in Switzerland and globally as low as possible`, adding cuts would span several years.
- Looking at implications for staff, the reported 10,000 job reduction would mark the next phase of restructuring after the Credit Suisse integration and impact a meaningful share of UBS's workforce.
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UBS poised for fresh job cuts? Report flags 10,000 layoffs by 2027 in next phase of restructuring
UBS may cut 10,000 jobs by 2027, a report said. A reduction of 10,000 positions would amount to a roughly 9% cut in Swiss bank's workforce, which stood at around 110,000 employees at the end of 2024.
·New Delhi, India
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Coverage Details
Total News Sources45
Leaning Left4Leaning Right6Center8Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 22%
C 45%
R 33%
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